Problem: A biologist wants to calculate the number of fish in a lake. On May 1 she catches a random sample of 60 fish, tags them, and releases them. On September 1 she catches a random sample of 70 fish and finds that 3 of them are tagged. To calculate the number of fish in the lake on May 1, she assumes that 25% of these fish are no longer in the lake on September 1 (because of death and emigrations), that 40% of the fish were not in the lake May 1 (because of births and immigrations), and that the number of untagged fish and tagged fish in the September 1 sample are representative of the total population. What does the biologist calculate for the number of fish in the lake on May 1?

Of the $70$ fish caught in September, $40\%$ were not there in May, so $42$ fish were there in May. Since the percentage of tagged fish in September is proportional to the percentage of tagged fish in May, $\frac{3}{42} = \frac{60}{x} \Longrightarrow \boxed{840}$.